EnLink Midstream Files Proxy Statement Ahead of Vote on ONEOK Merger

MT Newswires Live2024-12-31

EnLink Midstream (ENLC) filed a definitive proxy statement Tuesday ahead of a shareholder vote on its proposed acquisition by ONEOK (OKE).

Under the acquisition agreement, unit holders of EnLink will receive 0.1412 shares of ONEOK for each unit they hold, the filing said.

EnLink said it will hold a special Jan. 30 meeting of its unitholders, with its board unanimously recommending an approval of the deal, the filing said.

As of Nov. 24, ONEOK owned 43.8% of EnLink units, the filing said.

Upon completion of the acquisition, ONEOK shareholders will hold about 94.1%, and current EnLink unitholders around 5.9%, of the combined company, the filing said.

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